Think you need Cyber Liability Insurance?

Think you need Cyber Liability Insurance?

Source-Bloomberg

Staples Inc., the world’s largest office-supply chain, is investigating a potential breach of customer credit-card data, becoming the latest retailer to confront a threat from hackers in recent months.

The potential data theft adds to a wave of breaches at companies such as Home Depot Inc., Target Corp., Sears Holdings Corp.’s Kmart chain and Neiman Marcus Group Ltd. that have put pressure on retailers to bolster security. The Staples incident, reported earlier by independent journalist Brian Krebs, may involve the theft of card information from Staples locations in the Northeast.

Retailers are not the only businesses to experience this cyber risk exposure. Anyone with a Web site has the legal liabilities of a publisher and has a legal responsibility to protect customer privacy information. If your company uses the Internet to conduct business operations through email, web sales, e-commerce or pay-pal, you are exposed to cyber liability, regardless of your business type or classification.